Moody's: Aviall positive

Moody's Investors Service said it confirmed all ratings of Aviall Inc. (senior implied of Ba3) and has changed the company's outlook to positive from stable, recognizing the strength of Aviall's operating performance and credit fundamentals and its ability to internally fund ongoing growth initiatives while effectively managing financial and business risks.

Moody's confirmed Aviall's $200 million senior unsecured notes due 2011 at B1, senior implied rating at Ba3 and issuer rating at B2.

Moody's said the positive rating outlook reflects the company's recent track record of strong operating performance and financial results, as well as the expectation that cash flow generation in the near term will be sufficient to cover capital expenditures and substantial levels of working capital investment that would be needed to support the company's growth strategy.

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